Mobile Home Park NOI Calculator

Calculate Net Operating Income from rent, expenses, and vacancy.

$ All lots × current rent × 12, as if 100% occupied.
$ Utility billbacks, late fees, application fees, pet fees.
Typical stabilized: 3–8%.
$ Property tax, insurance, utilities, R&M, management, payroll, etc. — exclude debt service and capex.
Net Operating Income
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What is NOI?

Net Operating Income is the standard metric for valuing income-producing real estate. It's effective gross income minus operating expenses, but specifically excludes debt service and capex. NOI is the "apples-to-apples" income figure used to compare parks with different financing structures.

What's a healthy operating expense ratio?

Stabilized TOH-heavy parks usually run 30–40% operating expense ratio (OpEx ÷ EGI). POH-heavy parks run 45–55% because the operator absorbs home-side capex and turnover. Above 55% in a TOH-heavy park usually signals a problem: deferred maintenance catching up, a payroll bloat, or under-billed utilities.

Why does NOI per lot matter?

NOI per lot is the cleanest portfolio comparison metric. National averages cluster around $1,500–$2,500 per lot per year for stabilized parks. Over $3,000 is excellent; under $1,000 typically means under-rent or operational drag.

See our full NOI definition for more.

This calculator is informational only and is not financial, legal, investment, or tax advice. Verify any decision with qualified counsel and a licensed professional.

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